Income Tax Department can send income tax notice on these 5 high value cash transactions
Income Tax Notice: You will find many such people who prefer to transact in cash even in the age of Digital…
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CGST Section 16 Revised: Taxpayers Gain Relief with New ITC Claim Provisions for 2017-2021
In a significant update to the Central Goods and Services Tax (CGST) Act, Section 16 has been amended with the…
6 income tax rules introduced in Budget 2024 to be effective from Oct 1. Check list
The STT applicable to futures and options (F&O) trading is set to increase from October 1, 2024. Specifically, the tax…
Intimation Under Section 143(1) of Income Tax Act
Section 143(1) of the Income Tax Act, 1961 is essentially a computer-generated automated message which lets the taxpayer know of…
Advance tax collection for H1 swells 22.6% to Rs 4.36 lakh crores
Advance tax collections in India increased by 22.61% to ₹4.36 lakh crores in the first half of the current financial…
Overseas Citizen of India (OCI) income tax depends on person’s residency status under I-T Act:
A foreign national applied for an OCI card based on her marriage to an Indian citizen, but her application was…
Net direct tax collection rises 22.5% to Rs 6.93 trillion till August 11
India’s net direct tax collection, with refunds adjusted, grew 22.5% to Rs 6.93 trillion between April 1 and August 11…
Special Drive To Weed Out Fake GST Registration Begins On Aug 16: CBIC
The second Special All-India Drive may be launched by all Central and State Tax administrations from August 16 to October…